Albany housing market on the improving - WALB.com, South Georgia News, Weather, Sports

Albany housing market improving despite national scene

ALBANY, GA (WALB) -

The housing market crashed five years ago, but realtors in Albany say it seems to be getting back on track. For sales signs are on almost every street in Albany. Realtors say that's a good sign the market is taking a turn for the better.

"As the economy improves, we could see interest rates increase. So this would certainly be the year that home buyers need to seek out to own a home," said Debbie Fulford.

ReMax saw a 10% increase in home sales this quarter. They say that's the highest it's been since 2008.

Debbie Fulford is an associate broker with ReMax. She has 23 years of real estate experience. She says many people still have the dream of home ownership and lower interest rates are making homes more affordable.

"Because of the medium income range of families in the Albany area, we're seeing more under the $300,000 sales. But we are seeing a variety of sales in different price range," said Fulford.

Fulford says many people are now making the decision to buy a home instead of renting.

"Because of the demand of the rental market, it's driving the rental prices up. People now can own a home for less money than what a home rents for. So they're taking advantage of that opportunity," said Debbie Fulford.

Many people buy houses in the spring and summer. Fulford anticipates the housing market to keep climbing in 2013.

Realtors also tell us investors buying rental property can help contribute to the improving housing market.

 

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